Microlenders eat banks’ lunch

Microlenders eat banks’ lunch
Getbucks recorded a net profit of $2,58 million for the six months ended 31 December 2017, a 51 percent increase from last year.

Getbucks recorded a net profit of $2,58 million for the six months ended 31 December 2017, a 51 percent increase from last year.

ZIMBABWE’S microfinance institutions have enjoyed considerable growth lately after occupying the lending space left by banks in the face of uncontrolled government borrowing that has crowded out the private sector.
Zimbabwe Stock Exchange listed Getbucks last week reported a 51 percent increase in net profit for the six months ended December 31, 2017, on the back of a rapidly expanding informal economy.

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